Can interest rates make babies? The hidden demographic effects of monetary policy (Part 1) Biagio Bossone February 19, 2026 This page in: English © 2026 The World Bank Group,

https://blogs.worldbank.org/en/allaboutfinance/can-interest-rates-make-babies--the-hidden-demographic-effects-o Monetary policy is often portrayed as a technical lever—moving interest rates to manage inflation and aggregate demand. Yet recent evidence suggests its reach may extend far deeper into household life than previously imagined. Beyond spending and borrowing, central bank decisions might be shaping one of society’s most fundamental choices: whether and when to have children. © 2026 The World Bank Group,